NORWICH – County sales tax revenues were down and property taxes were up in 2015, setting the stage for a tough financial year ahead, according to county administrators.
Recent reports from the New York State Tax Department show that sales tax revenue in Chenango County dropped by nearly one percent, or $200,000 over the last year. Despite early predications of a possible 1 percent sales tax revenue increase back in October, the months of November and December brought in less revenue that county officials had expected.
Sales tax revenue in Chenango has struggled to bounce back since the economic downturn in 2008, according to County Treasurer William Craine. Any growth in recent years has been minimal – about one percent per year.
“We didn’t see the growth we hoped for at the end of the year. It’s going to be interesting to see what heppens in the January and February reports,” said Craine.